| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1902 SW 42nd Way, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1981 |
| Units | 100 |
| Transaction Date | 2010-01-20 |
| Transaction Price | $8,597,300 |
| Buyer | LIV HOLDINGS LLC |
| Seller | --- |
1902 SW 42nd Way Gainesville Multifamily Investment
High renter-occupied concentration in the surrounding neighborhood supports depth of tenant demand, while current occupancy trends suggest disciplined lease management, according to WDSuite s commercial real estate analysis.
This A+ rated neighborhood ranks 2 out of 114 Gainesville metro neighborhoods, indicating strong overall fundamentals supported by dense retail and daily-needs access. Restaurant and grocery density place the area among the top quartile nationally, with neighborhood ranks of 3 and 2 out of 114, which helps sustain convenience-driven appeal for renters and supports leasing velocity.
The property s 1981 vintage is older than the neighborhood s average construction year of 1995 (rank 15 of 114), pointing to potential value-add through unit and systems modernization. For investors, targeted capital projects can enhance competitive positioning versus newer stock while aiming to preserve operating margins.
Renter-occupied share is elevated at the neighborhood level (rank 1 of 114 for renter concentration), signaling a deep tenant base and continued multifamily demand. Within a 3-mile radius, households increased over the last five years even as population edged down, implying smaller household sizes and a broader leasing pool. Looking ahead, WDSuite s data indicate significant forecast growth in households by 2028, which suggests renter pool expansion and supports occupancy stability for well-managed assets informed by multifamily property research.
Ownership remains a higher-cost path relative to incomes locally (value-to-income ratio ranks 3 of 114 and is high nationally), which tends to reinforce reliance on rental housing and can support retention. At the same time, neighborhood rent-to-income readings indicate affordability pressure, so operators should balance pricing power with renewal risk management to sustain performance.
Neighborhood safety indicators compare around the metro middle (crime rank 53 of 114), and national percentiles point to below-average safety versus U.S. neighborhoods. Recent trends are improving, however, with both violent and property offense rates declining year over year, according to CRE market data from WDSuite. For underwriting, many investors contextualize this by emphasizing on-site security practices and tenant screening to support stability.
Positioned in one of Gainesville s highest-rated neighborhoods for amenities and daily-needs access, the asset benefits from a deep local renter base and convenience that supports lease-up and retention. The 1981 construction presents value-add potential through targeted renovations to stay competitive with newer stock. According to CRE market data from WDSuite, neighborhood renter concentration is among the highest in the metro and 3-mile forecasts point to substantial household growth, both of which reinforce the depth of the tenant pool.
Key watch items include neighborhood-level affordability pressure (elevated rent-to-income) and safety metrics that track below national norms, warranting prudent pricing and operational controls. With disciplined capex and asset management, the combination of renter demand and amenity-rich location provides a credible path to durable performance.
- Amenity-rich A+ neighborhood with top-quartile food and grocery access supporting leasing velocity
- Deep renter base at the neighborhood level and strong 3-mile household growth outlook underpin demand
- 1981 vintage offers value-add and systems modernization opportunities to enhance competitiveness
- Pricing and renewal strategies should account for rent-to-income pressure and below-average safety readings